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Largest Dublin hotel development site sale to occur this decade
Dublin 15th February 2016, acting on behalf of U and I Group PLC, JLL Hotels & Hospitality Group has exclusively advised on the off-market sale of the Former Charlemont Clinic development site, on Charlemont Mall in Dublin 2.
The prime hotel development site, which extends to 0.95 acres and recently received a planning grant from Dublin City Council for a high quality 4 star hotel, has been acquired by Dalata Hotel Group PLC for a price of €11.9M.
Commenting on the sale, Dan O’Connor, Senior Vice President, JLL Hotels & Hospitality Group said:
“The sale of Charlemont Clinic is the largest Dublin hotel development site sale to occur this decade and it represents a rare opportunity to deliver much needed high quality hotel accommodation, within the prime corporate and leisure hub of Dublin 2”.
The price paid reflects the continued strong demand from hoteliers to gain a foothold in the buoyant Dublin hotel market, along with the significant skill and expertise of U+I’s hotel design and planning team, including architects Henry J Lyons”.
Dan O’Connor added:
“We are delighted to have helped U+I Group meet their strategic objective and having only moved our own JLL offices to the locality last year, we very much look forward to welcoming a new Clayton hotel nearby in 2018”.